Question

"the availability of scammers, fake gurus and inexpert brokers might lie to traders and take all your money."

What steps should we take to protect ourselves against scammers?

Answer 1

Question: "The availability of scammers, fake gurus and inexpert brokers might lie to traders and take all your money." What steps should we take to protect ourselves against scammers?

Fraudsters continue to find new ways to separate you from your personal information and your money. No one is immune from identity theft. With a few simple steps, you can avoid some of the biggest and fastest growing traps. Even if your information, account or identity is compromised you shouldn’t panic. With proper advanced planning you should be able to minimize the loss of both time and money.
Privacy is an important issue, especially in the information age. To keep your data safe, delete spam emails asking for personal information and keep your antivirus and anti-spyware software up to date. These important steps help you to protect your data and your wallet more safe. They are..

• Be Very Careful Before Clicking On Any Link In A Text Message

Be very careful when you receive an SMS with a link or a phone number you do not recognize. Be even more suspicious when you see a message warning of unauthorized activity or asking you to update your personal information.
Avoid clicking on links in text messages. If you are warned of a suspicious transaction on your account, call the phone number on the back of your credit or debit card to see if the warning is true. Just delete the text message.

• Don’t Forget The Danger Of Fake Emails And Phone Calls

Empty your mailbox regularly and consider investing in a mailbox lock. When mailing bill payments and checks, consider dropping them off at the post office or in a secure mailbox. These are simple changes that can have a big impact on your personal security.

• Avoid Banking On Public WiFi With Your Phone

Free WiFi and public WiFi can be a wonderful convenience. Unfortunately, fraudsters can take advantage of the lax security of public WiFi to steal your information. The researchers have found that many mobile apps don’t encrypt information properly, so it’s a bad idea to use certain types of mobile apps on unsecured Wi-Fi. If you want to use your phone to conduct sensitive transactions (like accessing your bank account), use a secure wireless network or your phone’s data network.

• Be aware of scams

Always be on the defensive with your private information. Never give out personal information to telemarketers or respond to emails from someone claiming to represent your bank, credit card issuer, a government agency, a charity, or other organization. If you think the request is legitimate, contact the company directly to confirm.

• Check your credit report

At least once a year, obtain and review your credit report for suspicious activity. Learn how to request a free copy of your report . Tear up or shred credit card statements, ATM, credit or debit card receipts, bank deposit receipts, loan solicitations and other documents that contain private financial information.

• Spot imposters

Scammers often pretend to be someone you trust, like a government official, a family member, a charity, or a company you do business with. Don’t send money or give out personal information in response to an unexpected request whether it comes as a text, a phone call, or an email.

• Misuse of Medicare dollars

This is one of the largest scams involving seniors. Common schemes include billing for services never delivered and selling unneeded devices or services to beneficiaries. Protect your Medicare number as you do your credit card, banking, and Social Security numbers and do not allow anyone else to use it. Be wary of sales people trying to sell you something they claim will be paid for by Medicare.

• Be skeptical about free trial offers

Some companies use free trials to sign you up for products and bill you every month until you cancel. Before you agree to a free trial, research the company and read the cancellation policy. And always review your monthly statements for charges you don’t recognize.

• Do online searches

Type a company or product name into your favorite search engine with words like “review,” “complaint” or “scam.” Or search for a phrase that describes your situation, like “IRS call.” You can even search for phone numbers to see if other people have reported them as scams.

• Be an informed consumer

Take the time to call and shop around before making a purchase. Also, carefully read all contracts and purchasing agreements before signing and make certain that all of your requirements have been put in writing. Understand all contract cancellation and refund terms.

As a general rule governing all of your interactions as a consumer, do not allow yourself to be pressured into making purchases, signing contracts, or committing funds. These decisions are yours and yours alone.

Sign up for free scam alerts from the FTC at ftc.gov/scams. Get the latest tips and advice about scams sent right to your inbox.
If you spot a scam, report it at ftc.gov/complaint. Your reports help the FTC and other law enforcement investigate scams and bring crooks to justice.